55 Mudgeeraba Road Worongary QLD 4213

This is a very unique and financially viable opportunity for any buyer looking for a passive investment with upside for potential additional development.
Located on a sloping 5140 sqm block, zoned Rural residential with a Land Use of Sports clubs / Facilities, this elevated block comprises:
Existing indoor in ground swimming facility with established tenant in place.510 sqm* Besser block style construction building, comprising a 20 metre, 5 lane, in ground heated commercial swimming pool, including reception area, guest waiting area, male & female change rooms & plant / equipment room.
5-year lease to a swimming school, commenced October 2019. 5 + 5 + 10 year options Rent as of 1st October 2023 is $89,019.48 Plus GST, Plus Outgoings.
Market Rent review due October 2024, indicating a significant increase due. This is currently under negotation and we are looking to secure a revised rental of $110,000 P.A. Nett, Excl GST.
2 x Car parking areas with approx.' 38 car parking spaces in total.
There is also scope for various other commercial / residential development subject to council approval with additional vacant land of 2480 sqm* for potential future development.
For Sale via offers to purchase:
Contact Adam Roberts 0422 443 565 / Giles Bushe - 0425 254 941